Beardsell Limited — Capital/Financing Update 2020

Aug 26, 2020

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BEARDSELL LIMITED

Regd Office : 47 Greames Road, Chennai -600006 GSTIN: 33AAACB1429P2ZP CIN No : L65991TN1936 PLC001428 Email : ho@beardsell.co.in Website : www.beardsell.co.in

SECR : August : 2020

26[th] August, 2020

The Listing Manager, The Listing Manager National Stock Exchange of India Limited, BSE Limited Exchange Plaza Registered Office : Floor 25 BandraKurla Complex, Bandra (E) P J Towers, Dalal Street, Mumbai-400 051 Mumbai – 400 001 Scrip Code: BEARDSELL Scrip Code: 539447

Dear Sirs,

Sub: Disclosure pursuant to Regulation 30 of SEBI (LODR) Regulations 2015

Pursuant to Regulation 30 Part A, Para A of Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, please find enclosed a certified true copy of Circular Resolution dated 25[th] August 2020 regarding the withdrawal of Rights Issue proposal by our Board of Directors.

Kindly take on record the above disclosure.

Thanking you,

Yours faithfully,

For BEARDSELL LIMITED

T. ANANTHA JOTHI

COMPANY SECRETARY

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BEARDSELL LIMITED

Regd Office : 47 Greames Road, Chennai -600006 GSTIN: 33AAACB1429P2ZP CIN No : L65991TN1936 PLC001428 Email : ho@beardsell.co.in Website : www.beardsell.co.in

CIRCULAR RESOLUTION 134 Dated 25[th] August, 2020

We would like to state that we got the Board’s approval for Rights issue of equity shares on 27[th] May 2020. We appointed M/s.Saffron Capital Advisors Pvt Ltd, Mumbai as Merchant Bankers for the Rights issue and retained M/s. Crawford Bayley, as due diligence lawyers with the corporate law support of SPNP & Associates (Mr P Sriram), Chennai. A couple of days before, the due diligence work was completed and the merchant bankers were about to start the preparation of Draft Letter of Offer. As mandated by SEBI the last three years financials have to be restated by our statutory auditors M/s. Batliboi& Associates LLP and an NOC has to be obtained for the rights issue proposal by our lenders Bank of India and we are were in the process of these activities.

“RESOLVED THAT due to the subdued sentiments of investors on account of COVID19 pandemic, the Board of Directors decided to withdraw the decision of Rights Issue”.

“RESOLVED FURTHER THAT the Board members are requested to approve the above decision of withdrawal of Rights Issue proposal”.

“RESOLVED FURTHER Ms T AnanthaJothi, Company Secretary be and is hereby authorised to intimate the stock exchanges and also host the same in our web site.

Sd/Directors

//CERTIFIED TRUE COPY//

For BEARDSELL LIMITED, T AnanthaJothi Company Secretary

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